OIC’s target investment sectors include energy efficiency, digital infrastructure, social infrastructure, sustainable power generation, renewable fuels, waste & recycling, water, transportation, and agriculture. OIC’s unique partnership approach – for entrepreneurs, by entrepreneurs – cultivates creative credit, equity, and growth capital solutions to help middle market businesses scale and deploy sustainable infrastructure. With approximately $3 billion in assets under management, OIC invests in North America and select international markets. For more information, please visit About OIC The company’s customers include major food and beverage companies and consumer products companies. The company is focused on products serving four key markets: Health, Home & Beauty Food & Beverage Essential Ingredients and Renewable Fuels. (ALTO) is a leading producer and distributor of specialty alcohols and essential ingredients. Guggenheim Securities, LLC acted as lead placement agent and lead arranger and RBC Capital Markets, LLC acted as arranger for the senior secured term loan facility.Īlto Ingredients, Inc. We are excited to be both a lender and a shareholder of Alto and look forward to supporting management as they execute the next phase of their transformation.” This partnership supports OIC’s goal to champion the reinvention of sustainable infrastructure through investment partnerships. We also plan to pursue various protein and yeast production expansion options, energy supply improvements, and carbon capture sequestration opportunities.”Įthan Shoemaker, Investment Partner and Head of Infra Credit at OIC, added, “We are excited to partner with Alto and help accelerate their strategic transformation by financing capital expenditures to enhance production of high-value, high-margin, and more sustainable products. Our near-term plans for the capital include expanding corn oil production, corn storage and specialty alcohol production. The facility is also structured to give us tremendous flexibility – we can draw the capital over time, when we need it, and there are no financial covenants.
#The loan arranger upgrade#
In connection with entering into the term loan, Alto will issue up to 1.6 million shares of common stock to OIC.Īlto Ingredients’ CFO, Bryon McGregor, said, “The term loan gives us the capital we need to upgrade our plants to produce higher value products with better margins.
The term loan has a fixed annual interest rate of 10.0% with an original issue discount of 1.5%.
The term loan matures in six years and is not subject to scheduled amortization payments. The term loan allows for periodic draws in an aggregate amount up to $100 million, with an additional $25 million available subject to satisfying certain conditions. (NASDAQ: ALTO), a leading producer and distributor of specialty alcohols and essential ingredients, today announced that it entered into a $125 million senior secured term loan facility with certain funds managed by Orion Infrastructure Capital (“OIC” or “Orion”). 07, 2022 (GLOBE NEWSWIRE) - Alto Ingredients, Inc.
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